Endorsements in 2017
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Endorsements in 2017 Table of contents Welcome to the celebration of the International Day of Family Remittances .......................................................... 4 IFAD’s Resolution 189/XXXVIII Proclamation of an International Day of Family Remittances ................. 6 Remittance families’ contributions towards the Sustainable Development Goals ............................................................. 8 Endorsements in 2017 ......................................................... 12 Endorsements by the United Nations ......................................... 13 Endorsements by the private sector........................................... 17 Milestones....................................................................... 27 3 Welcome to the celebration of the International Day of Family Remittances The International Day of Family Today, for example, we know that Remittances recognizes the efforts of aggregate remittances add up to more millions of migrants to improve the lives than three times Official Development of their families and to create a future of Assistance (ODA). Remittances are hope for their children. Remittances – the projected to total $450 billion this year. money that is sent home by migrants – But behind the numbers are the individual help to sustain 800 million people and remittances of US$200 or US$300 that are a major contributor to development. migrants send home regularly so that their Some 40 per cent of remittances go to families can buy food, pay for housing, and rural areas, where poverty and hunger meet necessary expenses. are concentrated. Two years ago, the United Nations issued The International Fund for Agricultural a call to action to eradicate poverty, Development (IFAD) is committed to end hunger, and reduce social and working in partnership to make the economic inequality in its many forms. development impact of remittances even The 2030 Agenda affirms 17 specific greater. Much progress has already been Sustainable Development Goals (SDGs) made. Only fifteen years ago, remittances that address the major challenges facing were literally unaccounted for, and the the world today. contributions of migrant workers remained unrecognized – though not to their families. For their part, the 200 million remittance But for the development community, families face these challenges every day. it has been a gradual realization that Most migrants work at difficult and often remittances are a potentially powerful tool. dangerous jobs at the low end of the Documentation of the scale and scope international economy, in order to support of remittances has been key in building those who remain at home. They have this consensus. their own specific goals: reduced poverty, better health and nutrition, education, improved housing and sanitation, and greater resilience in the face of uncertainty with the help of savings. They are working towards a more stable and sustainable future – a goal that the international community shares. 4 Current estimates are that 75 per cent of Remittances are private funds, transferred remittance flows go to meet immediate through private channels. It is obvious but needs, but the other 25 per cent – over also important to acknowledge the growing US$100 billion a year – is available for other levels of support and endorsements from purposes. Given better opportunities to the private sector, which has increased save and investment options, migrants’ its support for the remittances agenda. families will be better able to channel There are regulatory and policy aspects remittances toward long-term needs and to leveraging the power of remittances, live better lives. And because many migrant and hence governments also have the workers will eventually return home, helping opportunity to substantially increase their them build assets is a central development positive impact, particularly in the poorest policy objective. and most remote rural areas. And through further coordinated initiatives, international The projected US$6.5 trillion in aggregate financial institutions can better support remittances to be received by families living the primary goal of enhancing wellbeing of in developing countries over the period of migrant workers and their families. the 2030 Agenda represent a tremendous opportunity. Remittances count especially We have to remember also that behind in the small rural towns and villages of the numbers are the people. We invite developing countries: In 2016, one hundred everyone to join us in celebrating this low- and middle-income countries, the International Day of Family Remittances by majority with large rural populations, helping remittance families reach their own each received at least US$100 million in goals. And in doing so, we’ll get closer to remittances. It is here that remittances can achieving the SDGs, one family at a time. help make migration more of a choice than a necessity for future generations. Gilbert F. Houngbo President of IFAD 5 IFAD’s Resolution 189/XXXVIII Proclamation of an International Day of Family Remittances Approved by 176 Member States of IFAD’s Governing Council on 16 February 2015 The Governing Council, Recalling the Declaration of the High-level Dialogue on International Migration and Development, unanimously adopted by the General Assembly and Member States on 3-4 October 2013, Recalling Resolution 55/93 adopted by the General Assembly, proclaiming 18 December as International Migrants Day, which calls for the protection of their human rights, Welcoming the recommendation, unanimously endorsed by representatives of the public and private sectors and civil society during IFAD’s Global Forum on Remittances, held in Bangkok on 20-23 May 2013, to declare an International Day of Family Remittances, Considering that in many developing countries, international remittances constitute an important source of income to poor families, projected to exceed US$500 billion annually from 2016 onward, Noting that the transformative impact remittances have on access to education, food, health and housing is most apparent in communities of the developing world, particularly in rural areas where poverty rates are highest, Recognizing the critical contributions of migrants in supporting their families living in fragile states and during times of crisis, Recognizing the work done by Member States, the United Nations system and the role of civil society organizations in promoting the development impact of family remittances, Recognizing the role of the private sector in developing cost-effective and accessible financial transfer services, Noting that families, as basic units of social life, are major agents of sustainable development at all levels of society and that their contribution to that process is crucial for its success, 6 Stressing that South-South remittances can represent an important element for international cooperation among developing countries, in their collective pursuit of economic growth and sustainable development, Mindful that millions of families in rural areas are also supported by domestic remittances sent by family members typically living in urban locations, Proclaims June 16 to be the International Day of Family Remittances, (a) Invites all governments, private-sector entities, civil society representatives and inter-governmental and non-governmental organizations to undertake special efforts in observance of this Day, (b) Focuses attention on the receiving end of family remittances, and the need to capitalize on their potential to further help meet the economic, social and environmental challenges confronting developing countries, particularly in rural areas, (c) Encourages the private sector to facilitate the sending of remittances and to link these flows to a range of financial services and products for migrants and their families, (d) Invites civil society organizations to bring forward initiatives based on synergies and partnerships with international organizations, governments and the private sector, that enhance the development impact of remittances in communities of origin, (e) Calls upon the United Nations General Assembly to endorse the observance of this Day. 7 Remittance families’ contributions towards the Sustainable Development Goals In September 2015, the United Nations In this context, the SDGs provide a unique issued a call to action to eradicate poverty, opportunity to create a convergence end hunger, and reduce social and between the goals of remittance families, economic inequality in its many forms: the strategies of the private sector The 2030 Agenda for Sustainable to tap underserved markets and the Development. This comprehensive traditional role of civil society to promote undertaking, endorsed by all 193 Member positive change. States of the United Nations, affirms the need to reach 17 specific Sustainable For example, improved legal and Development Goals (SDGs) by 2030. regulatory frameworks can create enabling environments resulting in more competition For their part, 200 million remittance and lower transaction costs. Promoting families are already engaged in this effort. financial inclusion for remittance families They subscribe to many core SDGs can increase savings and investment; through their daily lives and their aspirations private-sector initiatives that target for the future. Remittance families have opportunities to make remittance families their own individual goals: reduced poverty, account holders, clients, and customers will better health and nutrition, education